An electromagnetic actuator and an automatic recloser incorporating such actuator are disclosed. The actuator is shown to include a housing, a permanent magnet member, a coil, an armature, mounted to move axially within the housing between first and second positions, and a non-magnetic spacer. The armature, when in the second position, is spaced a distance from the housing by the spacer. The spacer is mounted to stop movement of the armature in the second position. In the preferred embodiment, the permanent magnet member includes a core and a number of magnet segments attached thereto. It is especially preferred for each of the permanent magnet segments to be arcuate shaped and that each segment be polarized substantially radially or in a direction parallel to the center radius of each segment. In a preferred embodiment, the housing is formed from a material having a high permeability and the spacer is formed from material having a relative permeability close to one or from a substantially non-magnetic material, such as acetal resin.The circuit recloser is shown to include the bistable magnetic actuator, a contact switch, a connecting member, connected between the actuator the contact switch and a spring, connected to bias the connecting member in relation to the contact switch. When the actuator is in its second position the end of the connecting member is spaced from the end of the contact switch, i.e., over travel is present. An indicator is provided for indicating whether the contact switch is open or closed.